An education system in the South approved a private equity commitment with a new manager and a real estate credit commitment with an existing manager last month following a recommendation from its general investment consultant.
Plan will seek a core open-end real estate manager to handle a $20 million mandate.
Plan disclosed value-add real estate and private equity commitments in newly released board meeting materials.
Plan has issued an RFP for separate account management services to implement a private markets investment program for its OPEB trust.
The commitments include one to a first-time manager for the plan.
The plan will invest more than $90 million overall in two existing relationships.
The plan terminated the sole manager handling its $169 million portfolio.
He is responsible for fund management for the group.
The plan approved up to $650 million in new private commitments at its board meeting yesterday.
He will lead the firm’s real estate investment team, which oversees $18 billion in assets.